1. If you look at the schedule immediately there is an instinctive impression, follow this feeling.

3. That you have missed a considerable part of new trend, shouldn’t keep you from trade in the tideway of this trend (until you can specify a reasonable point of a stop of losses).

4. Don’t play against the bull or bear traps (last not worked price formations) even if other reasons induce you to it.

5. Never play against the first rupture in price movement! For example, if you want to open a position in a correction direction and correction is formed on price rupture, don’t enter into the market.

6. In most cases instead of limit orders (performed at the specified price) use market orders (performed on current market price). It is especially important at liquidation of a loss position or at opening of the position connected with favorable possibilities for long-term transactions, in situations when it is important not to miss current prices. Though limit orders will give slightly best strike price in overwhelming majority of transactions, this advantage will be usual more than to be blocked considerably by the worst prices or the missed possibilities of profit earning when the initial limit order isn’t performed.

7. Never increase a position near to an initial point of an input in the auctions after the market already was in territory favorable for your position and has returned to the initial prices. Often that fact that the market has made complete return is a negative sign for trade. Even if the position is still well reasonable, its increase in a similar situation can lead to premature fixing of losses because of the increased risk at adverse movement of the price.

Exit from trade:

8. Make the decision on levels of protective stops at the moment of position opening.

9. Leave any transaction, if again formed price models or behavior of the market to an opposite direction of your position even if stop points are not reached yet. Wonder: “If I need to have a position in this market how it should be directed?”. If the answer doesn’t correspond to that position which you hold, close it. Actually, if opposite indicators are strong enough, develop a position.

10. Anyway immediately close the transaction as soon as its initial preconditions are broken.

11. If in the first day of your trade it is found out that you essentially aren’t right, immediately leave the transaction, especially if the market tests the rupture directed against you.

12. In case of scale breakdown against a position which you hold, or immediately liquidate a position, or use very close stop. In case of breakdown with rupture liquidate a position immediately.

If you want to participate in forex trading should start from learning the basics of this market to make sure you do not experience problems with this industry.

There is another option – you can hire professional traders to managed your trading account – read more about forex investment here. Also make sure to look for the info in a good forex book.